Thursday, December 14, 2023

Fast-growing Firm Accused of Corporate Espionage in $250M Lawsuit

In the $250 million lawsuit, the California company alleges AscellaHealth used connections inside Nymox in an attempt "to take control of the company's assets by a kick-back scheme."...

Nymox is alleging that AscellaHealth—which Nymox refers to as “a would-be ‘black knight’ competitor”—resorted to “illegal and unlawful corporate espionage” because it couldn’t gain enough support from Nymox shareholders by “legitimate means.”

Nymox is accusing Ascella of using its ties to the ex-Nymox leaders to pass off an investment proposal as a way to learn confidential company information and take control of the company's assets via a kick-back scheme, according to the biotech’s Nov. 9 release. more